Joining the industry's ramped up efforts in Congress to lift the small business loan cap, the Texas Credit Union League said today it has teamed up with the state's chamber group, the Texas Association of Business, in an e-mail blitz to sway votes of U.S. Sen. Kay Bailey Hutchison and John Cornyn.
The Texas League campaign includes sending e-mail messages to all small business members of CUs across the state asking they write the two Texas senators in support of S. 2919. The Texas Association of Business on Thursday put on a press briefing extolling the CU-backed bill and urging "a doubling the cap to 25%."
TAB President William Hammond told reporters the congressional measure would free up $10 billion nationally for small business lending for credit union members, including $575 million in Texas where he said more than 6,000 new jobs would be created. Hammond said the proposal to double the member business lending cap would spawn an additional 108,000 jobs or more nationwide.
Hammond directed the media to a new TAB website: http://members.txbiz.org/credit/signup.asp containing the Hutchison/Cornyn letters, a similar step taken by the Texas League as it joins CUNA in the stepped up MBL campaign.
"Whether your credit union does member business lending or not, the fact is that we have a historic opportunity to restore lending powers to credit unions," said the league. "It is essential that MBL recipients join forces to help lead this effort."